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#Malaysia's Bank Muamalat to raise up to 1 bln rgt via #sukuk

Thu, 2016-06-02 09:43 — newsdesk

Malaysia's Bank Muamalat will set up a 1 bn ringgit ($243.4 mn) sukuk programme after redeeming 400 mn ringgit worth of subordinated sukuk on June 15. Bank Muamalat's new sukuk programme has loss-absorption features to meet Basel III criteria, qualifying as Tier 2 capital. In February, Bank Muamalat and Malaysia Building Society called off merger talks that would have created one of the country's largest standalone Islamic banks.

Source: 

http://www.reuters.com/article/bank-muamalat-sukuk-idUSL5N18M077